Cantel announces pact with Olympus upon approval of MediVators merger.CLIFTON, N.J.--(BUSINESS WIRE)--March 12, 1996--Cantel Industries Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CNTL CNTL Control ), in conjunction with today's shareholder approval of the merger whereby Cantel will acquire MediVators Inc. for stock valued at approximately $10 million, announced that it has signed an agreement with Olympus America Inc. - Endospcope Division whereby Olympus America will have exclusive distribution rights for the MediVators endoscope endoscope, any instrument used to look inside the body. Usually consisting of a fiber-optic tube attached to a viewing device, endoscopes are used to explore and biopsy such areas as the colon and the bronchi of the lungs. disinfection disinfection, n the process of destroying pathogenic organisms or rendering them inert. disinfection, full oral cavity, n a procedure used to reduce active periodontal disease, usually completed within a certain short time frame. equipment and supplies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Central and South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , the Caribbean and the West Indies. Olympus America Inc. is affiliated with Olympus Optical Co. Ltd., the world leader in the design, manufacture and sale of endoscopes with sales of approximately $3 billion. James P. Reilly, president and chief executive officer of Cantel Industries Inc., stated, "Having represented Olympus in Canada for the past 50 years, we look forward to this new strategic alliance with Olympus, which will give us the most complete coverage possible of the endoscope disinfection market throughout the Western Hemisphere." Reilly further stated, "The acquisition of MediVators, a United States company, will also allow us to utilize Cantel's net operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. carryforward of approximately $110,000,000." MediVators, based in Cannon Falls, Minn., designs, manufactures and markets endoscope disinfection equipment and supplies and medical waste disposal systems. Cantel's Canadian subsidiary has been distributing MediVators' endoscope disinfection equipment since 1994. Cantel, through its Canadian subsidiary, Carsen Group Inc., markets and distributes medical equipment (including flexible and rigid endoscopes), precision instruments (including microscopes and image analysis systems) and industrial equipment (including remote visual inspection devices and laser distance measurement equipment). Carsen also offers a range of photographic equipment and business products. CONTACT: Cantel Industries Inc. James P. Reilly, 201/470-8700 or Martin E. Janis & Company Inc. Bev Jedynak, 312/943-1100 |
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